CTP, a listed developer, owner and manager of industrial and logistics (I&L) properties in Europe, secured €200 million in financing from the European Investment Bank (EIB) to fuel large-scale solar deployment across its European business park portfolio.
CTP began deploying solar across its I&L buildings several years ago. The company has also established its own energy company to oversee its ambitious solar and renewable energy plan, targeting a 15% YoC return on its solar investments.
As of 2022, CTP had installed 38 MWp of solar capacity on its roof space. It plans to add 100 MWp within this year. The 10-year unsecured loan from the EIB financing is set to support CTP's medium-term goal of reaching 400 MWp by 2026.
Being one of Europe's largest I&L property developer, until March this year, CTP owns 10.9 million sqm of GLA across 10 Central and Eastern European countries , with expansion in Western Europe. It plans to nearly double its portfolio to 20 million sqm by the end of the decade.
CTP sees renewable energy deployment not only as an enhanced layer to strengthen the security of power supply but a contribution to boosting climate action and social and economic cohesion. Over the longer term, the company plans to establish completely energy-independent industrial parks. All clean energy used onsite will be self-generated within the parks and excess energy will be supplied into the local power grid, benefiting neighboring communities while spurring energy transition for local regions.
"The backing of the European Investment Bank is testament to the robust business strategy we have in place to deliver on the large-scale installation of solar PV across our portfolio, and allows us to obtain long-term unsecured financing at attractive conditions," said Richard Wilkinson, CFO of CTP.
"With loans like the one to CTP we help countries in the region to break away from fossil fuels, lower their dependency on energy imports and ultimately bring down electricity prices for everyone's benefit—a transition that makes economic AND social sense," said Lilyana Pavlova , Vice President of EIB.
